The board of directors of Thin Film Electronics ASA ("Thinfilm") resolved on 3 September 2019 to grant a total of 48,000,000 incentive subscription rights ("SRs") to twenty-five employees in Thinfilm.
The grants were made under Thinfilm's 2019 Subscription Rights Incentive Plan as resolved at Thinfilm's Annual General Meeting on 28 May 2019.
The exercise price of the SRs is NOK 0.1130 per share.
The vesting schedule for the SRs for the existing employees is 1/12 of the subscription rights will vest and become exercisable every three months on each January 15, April 15, July 15 and October 15, so that each Option is fully vested approximately three years after the Grant Date with the Vesting Commencement Date of 15, July 2019.
The vesting schedule for the SRs for the new employees 1/3 of the subscription rights will vest on the first anniversary of the Vesting Commencement Date and 1/8 of the remaining Options will vest and become exercisable every three months thereafter on each January 15, April 15, July 15 and October 15, so that each Option is fully vested approximately three years after the Grant Date.
The subscription rights expire on 28 May 2024.
Following the grant there are 111,776,182 SRs outstanding in Thinfilm.
3 September 2019
Thin Film Electronics ASA
This information is subject of the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.